Director, Risk Management

Director of Risk ManagementSOLV Energy is a leading provider of infrastructure services to the power industry, designing, building and maintaining utility scale solar, battery storage and high voltage substation projects nationwide.The Director of Risk Management provides strategic leadership and operational oversight for risk management activities across the organization. This position will serve as a trusted strategic advisor to executive leadership, offering independent risk assessments, program recommendations, and cross-functional guidance. The Director will play a pivotal role in evaluating and potentially establishing alternative risk financing mechanisms, including captive insurance structures and self-insurance programs, while also overseeing the successful expansion of the company's surety bonding program. This role can be based full-time in our office in San Diego, CA, Denver, CO, Dallas, TX, or Edison, NJ. Specific location details and expectations will be discussed during the interview process.Position Responsibilities and Duties:Strategic Risk LeadershipWorking with leadership, develop, implement, and continuously refine a comprehensive Enterprise Risk Management (ERM) framework aligned with company strategy and growth objectives.Proactively present risk management recommendations, trend analyses, and program updates to executive leadership and the BoardEstablish and track key risk indicators (KRIs) and present regular risk dashboards to senior management.Insurance Program ManagementLead all aspects of annual insurance renewals across all lines of coverage, including General Liability, Workers' Compensation, Commercial Auto, Umbrella/Excess, Professional Liability, and Pollution Liability.Manage Builders Risk policy placements, including project-specific and blanket programs, ensuring appropriate coverage terms and limits aligned with project scope and value.Conduct and oversee insurance audits, ensuring accurate premium computation and resolving discrepancies with carriers.Maintain strong relationships with brokers, underwriters, and carriers; actively market the company's risk profile to secure favorable terms and pricing.Benchmark coverage, retentions, and premiums against industry peers and recommend program adjustments.Alternative Risk Financing & Captive DevelopmentLead the feasibility analysis, design, and potential implementation of a captive insurance company or other alternative risk transfer vehicles.Evaluate self-insurance programs for appropriate lines of coverage, including fronting arrangements, loss-sensitive programs, and funded retentions.Partner with external advisors (actuaries, captive managers, legal counsel) to structure, domicile, and operate alternative risk financing programs.Develop financial models to assess risk retention strategies and their impact on company cash flow and total cost of risk (TCOR).Ensure regulatory compliance for all alternative risk structures, including captive licensing, reserve adequacy, and reporting requirements.Claims ManagementOversee the end-to-end claims management process across all lines of coverage, ensuring timely reporting, investigation, and favorable resolution.Collaborate with project teams, legal counsel, and third-party administrators (TPAs) to manage complex or litigated claims effectively.Analyze claims data to identify trends, root causes, and systemic exposures; use findings to drive loss prevention initiatives.Establish reserves and monitor claim development against projections; report significant claim activity to senior leadership.Manage relationships with defense counsel and monitor litigation spend and strategy.Contract Risk ReviewReview and negotiate risk-related provisions across all contract types the company executes, including construction owner contracts and subcontracts, supplier and vendor agreements, equipment leases, joint ventures, and professional service agreements.Review risk and insurance provisions in real estate transactions, including property acquisitions, dispositions, ground leases, and development agreements; ensure appropriate property, environmental, and liability coverage is in place at all stages of ownership and development.Surety Bond Program ManagementOversee the company's surety bonding program, including the management of bid bonds, performance bonds, and payment bonds across all active projects.Monitor aggregate bonding capacity and provide leadership with forward-looking analyses of bonding availability relative to backlog and growth plans.Maintain and strengthen relationships with surety underwriters; proactively manage the company's surety credit profile.Coordinate with finance and operations to provide sureties with timely financial and operational updatesNegotiate favorable bond terms, rates, and collateral requirements.Safety & Fleet Partnership — Loss ReductionServe as a strategic partner to the Safety department with a shared and explicit mandate to reduce both the frequency and severity of losses across all lines — including Workers' Compensation, General Liability, and auto/fleet exposures. Translate claims data and loss trends into actionable safety program priorities and field initiatives.Establish regular cadence with Safety leadership to review open claims, incident patterns, high-severity exposures, and near-miss data; jointly develop loss prevention programs targeting the most significant contributors to claim frequency and cost.Partner closely with Fleet management to oversee auto liability and physical damage exposures; collaborate on driver qualification standards, telematics programs, vehicle maintenance protocols, and accident response procedures to measurably reduce fleet claim frequency and severity.Present joint Risk/Safety loss analyses to senior leadership on a regular basis, including lagging indicators (claim counts, incurred costs, experience modification rates) and leading indicators (near-miss rates, safety audit scores, training completion) with trend commentary and recommended interventions.Quantify the financial impact of safety and fleet loss reduction initiatives on insurance program costs, experience modification factors, and total cost of risk; use this data to build the internal business case for loss prevention investment.Cross-Functional Collaboration & Risk CultureServe as a proactive risk resource embedded across all business functions, including preconstruction, field operations, Safety, Fleet, finance, legal, and human resources — anticipated and present at the table before decisions are made, not consulted after the fact.Educate and train project managers, superintendents, and other stakeholders on risk management best practices, insurance obligations, and loss prevention.Champion a risk-aware culture throughout the organization by making risk management practical and accessible at all levels.Coordinate with the Finance & Accounting teams on risk-related financial reporting, reserve adequacy, and total cost of risk analysis.Minimum Skills or Experience Requirements:EducationBachelor's degree required in Risk Management, Insurance, Finance, Business Administration, or a related field.Master's degree (MBA or MS in Risk Management) strongly preferred.ExperienceMinimum of 15 years of progressive risk management experience, with at least 5 years in the construction industry or a closely related sector preferred.Demonstrated experience managing commercial insurance programs in excess of $500 million in insured value or revenues.Hands-on experience with alternative risk financing, captive insurance programs, or large deductible/self-insurance structures preferred.Experience managing surety programs for a general contractor, specialty contractor, or construction manager.Proven track record of claims oversight and cost containment across multiple lines of coverage.Experience negotiating contracts and providing risk-related legal guidance in collaboration with counsel.Licenses & CertificationsCertified Risk Manager (CRM) or Associate in Risk Management (ARM) designation preferredChartered Property Casualty Underwriter (CPCU) designation preferred.Associate in Captive Insurance (ACI) or similar designation a plus.Skills & CompetenciesStrategic Thinking: Ability to anticipate risk exposures before they materialize and translate complex risk concepts into actionable business recommendations.Executive Communication: Skilled at presenting risk topics to non-technical audiences, including Boards and C-suite leadership, with clarity and credibility.Financial Acumen: Proficient in total cost of risk modeling, actuarial concepts, reserve analysis, and the financial mechanics of captive and self-insurance structures.Construction Knowledge: Deep familiarity with construction operations, project delivery methods (GC, CM-at-Risk, Design-Build), and the associated risk environment.Negotiation: Effective negotiator with carriers, brokers, sureties, and counterparties on contracts and risk terms.Cross-Functional Leadership: Demonstrated ability to influence without direct authority